After two days of relief, the rebound for US Markets hit a wall. All major US indexes were in the red with the tech heavy Nasdaq leading the decline. Volumes remained muted across the board with the S&P 500 vols down 18% vs the 20d average. In addition, over 65% of the stocks in the index declined on the day. You’d be hard pressed to find a sector that wasn’t negative at some point during the session, but defensive sectors were the place to be for outperformance with telecoms, healthcare and en…
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